MONTREAL – Steve Phillips’ vigorous pursuit of David Wells came up just short last winter. Now, Phillips has a mulligan – but he is contemplating whether to take it.

White Sox GM Kenny Williams is making Wells available again, but the circumstances at Shea have changed.

Phillips is monitoring the Wells situation closely, but he will only pull the trigger on a deal when the struggling Mets begin showing signs of contending. If the Mets get hot and Phillips thinks Wells is the missing piece to the Amazin’s playoff puzzle, then the GM’s pursuit will heat up like it did this winter, sources say.

Ultimately, Phillips and his hierarchy need to decide whether Wells is worth the hassle. They also must figure out how well the 38-year-old’s body will hold up.

If the White Sox want prospects, then outfielder Alex Escobar would lead the list. This offseason, Phillips was willing to give up Glendon Rusch, pitching prospect Grant Roberts and a minor leaguer, but Blue Jays GM Gord Ash chose to trade with the White Sox instead.

Some say this was partly due to Wells telling The Post in January that he wanted to be a Met and Toronto fans “[stink.]” Ash’s retribution was to send Wells to Chicago.

Wells has since sent out contradictory signals. He recently called Bobby Valentine a “loser.” Last season, Jersey Bobby Jones labeled Valentine a “joke.” After the two confronted each other and cleared things up, Jones wasn’t totally convinced he would receive another chance. But Jones did and he learned something about Valentine – something he thinks Wells would find out, too.

“I think David Wells would see Bobby Valentine in a totally different light,” Jones told The Post from Port St. Lucie, where he is rehabbing. “He would see Bobby Valentine isn’t that bad of guy.”

The last-place White Sox are going to trade Wells, because the portly left-hander owns a $9 million option for next season and the White Sox likely won’t pick it up. They also don’t want to pay the $1.25 million buyout.

Last night, before facing the Blue Jays in Toronto, Wells threatened to retire if his option wasn’t guaranteed next year by whatever team he is with. “If my option is not picked up, I’m going to retire,” Wells said. “I’ll be done.”